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September 15th, 2014

Weekly Mobile Insights- 6: Wearable forecasts and mCommerce conversion rates

Last week the Apple Watch was finally announced, so what does it really mean for the wearable market and what’s the status of wearables right now? We also give an update on why mCommerce conversion rates are so low.

Only 8% of consumers will purchase a wearable in the next year
According to a recent report by YouGov in the UK, only 8 percent of shoppers will purchase wearable tech in the next year. This compares to the 6 percent of the population who claim to own some kind of wearable tech today according to GfK. The YoGov report comes just before Apple unveiled the Apple Watch. Read more here.

33% of consumers may buy an Apple Watch
According to another poll done just after the announcement of the Apple Watch by Toluna QuickSurveys, 33 percent said they may buy the device compared with the nearly 70 percent who said they either would not or probably not. Did the Apple Watch really change the playing field completely? Who’s right? Find out more here.

Why are mCommerce conversion rates so low?
According to Braintree, mobile conversion rates are still far off from where they are on the desktop web. This is partially because it’s more difficult to enter or re-enter credit card information on mobile devices. While more than half of e-commerce shopping experiences happen on mobile devices (or 38% as we reported two weeks ago) only 10 to 15 percent of purchases occur on smartphones. Two-thirds to 75 percent fall off in conversion. Braintree concludes however that it’s possible to achieve similar or better conversion rates than desktop by simplifying the check-out and purchasing process. Who can afford not to? Read more in this article.

However, we think that the payment conversion is only part of the issue and that there are other great ways to improve conversion. Contact us to discuss further.

Tags: wearables

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